Hyderabad: The Directorate of Enforcement (ED), Hyderabad Zonal Office has attached twelve immovable properties worth Rs 18.14 Crore on 30 July under the provisions of the Prevention of Money Laundering Act (PMLA), 2002 in connection with an ongoing investigation against M/s Capital Protection Force Pvt. Ltd., Amardeep Kumar and others.
ED initiated investigation against M/s Capital Protection Force Pvt. Ltd. (a Hyderabad based company responsible for running bogus invoice discounting scheme), Amardeep Kumar and others on the basis of three FIRs registered by Economic Offence Wing, Cyberabad wherein it was alleged that Amardeep Kumar, Capital Protection Force Pvt. Ltd. & others fraudulently cheated gullible investors on the pretext of high returns on their investments.
The ED investigation revealed that M/s Capital Protection Force Pvt. Ltd., in the name and style of ‘Falcon invoice discounting scheme’, lured the investors on the pretext of providing funds for invoice discounting in exchange of promising returns based on the invoices discounted, but failed to repay their invested amounts. Investigation by the ED allegedly revealed that Amardeep Kumar was the mastermind behind the scam and he developed Falcon invoice app in order to receive deposits from the investors. This app was widely advertised on platforms such as Google, YouTube and other social media to attract investors. ED investigation allegedly revealed that in reality, no business of invoice discounting was carried out and the accused cheated investors to the tune of Rs. 792 Crore approximately.
The ED investigation has allegedly also revealed that Proceeds of Crime (POC), generated by the accused through the scam, were used as investment in equity shares of several companies; loans to companies; purchase of an aircraft; conspicuous consumption in casinos; purchase of immovable properties in the name of Amardeep Kumar and his family members; etc.
The attached immovable properties are in the name of Amardeep Kumar, his family members, M/s Rhett Healthcare Pvt. Ltd. and M/s Rhett Herbal Pvt. Ltd.
ED had earlier conducted search operations on 7 March 2025 and seized a private jet ‘Hawker 800A’, which was purchased by the main accused Amardeep Kumar from the POC.
Further investigation is under progress.
